The inductor market was valued at US$5.110 billion in 2019 and is projected to expand at a CAGR of 4.27% over the forecast period to reach US$6.567 billion by 2025. An inductor which is also called a coil, reactor, or chokes is a two-terminal electric component that stores energy in the magnetic field when electric current flows through it.
Growing demand for consumer electronics such as smartphones, tablets, laptops, set-top boxes, portable gaming consoles, and others is the major factor driving the demand for various inductors worldwide. The growth of the global inductor market is also fuelled by escalating demand for inductors from the telecommunication, industrial, automotive, and defense sectors. With the increasing disposable income, the expenditure on consumer electronics also increases especially in developing countries like India, China, and Brazil which boosts the demand for inductors. In fact, according to The World Bank, final consumption expenditure in China has increased from US$2.939 in 2010 trillion to US$7.26 trillion in 2018. Also, according to Japan Electronics and Information Technology Industries Association, global production by the electronics and IT industries expanded at a good rate of approx. 4% during the period 2015 to 2018. However, fluctuating prices of raw materials are expected to restrain the growth of the market during the forecast period.
The growing use of inductors in the automotive industry
The growing adoption of inductors in automotive electronics parts is expected to be one of the prime drivers for the growth of the market. As of today, the market is transitioning from an age of people driving cars to an age of self-driven or autonomous driving capability, resulting in an increase in the number of electronic parts used in cars which further increases the demand for the inductor. High-frequency power inductors for automotive applications are specifically designed for reliability to reduce failure risks. Increasing the production of automotive vehicles in various parts of the world is also expected to boost the demand for inductors in the coming years. For instance, according to the International Organization of Motor Vehicle Manufacturers, vehicle production in China has increased from 19,271,808 units in 2012 to 27,809,196 units in 2018.
The aerospace industry is growing at a substantial rate over the forecast period
Over recent years, automation has come to take on a critical role in a number of industries. The aerospace industry is one such sector that is increasingly using automated devices to address a number of tasks such as aircraft maintenance procedures, conducting experiments in outer space, surveillance, intelligence gathering, and terrain mapping in defense. These technologically advanced devices use components like sensors, filters, motors, and transformers which rely highly on inductors. Increasing demand for the high-performance interface, increased security, and heavy processing requirement is boosting the automated products demands and with the emerging industrial Internet of Things (IIoT) in this sector; the aerospace manufacturers are steadily upgrading their factories resulting in propelling the market growth opportunities for inductors and manufactures in the coming years.
The Asia Pacific is witnessing exponential growth during the forecast period
Geographically, Asia Pacific will witness substantial market growth opportunities owing to booming automotive as well as the consumer electronics industry in countries like China and India. This regional market growth is majorly supported by the presence of major market players who are investing heavily in expansion facilities. Simultaneously, the various government policies for the investment in the development of consumer electronics and other industries will also have a significant impact on the semiconductor components market in this region which will further boost the demand for inductors during the forecast period. For instance, the government of India recently reduces corporate tax aiming to attract foreign investment and boosting its manufacturing sector.
Inductor Market Scope:
|Market size value in 2019||US$5.110 billion|
|Market size value in 2025||US$6.567 billion|
|Growth Rate||CAGR of 4.27% from 2019 to 2025|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, End-User Industry, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Vishay Intertechnology, AVX Corporation, Coilcraft, Inc., Delta Electronics, Inc., Taiyo Yuden Co., Ltd., Panasonic Corporation, TDK Corporation, Ice Components Inc., Pulse A Yageo Company, Murata Manufacturing Co., Ltd.|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the inductor market size by 2025?
A1. The inductor market is expected to reach a market size of US$6.567 billion by 2025.
Q2. What is the size of the inductor market?
A2. Inductor Market was valued at US$5.110 billion in the year 2019.
Q3. What are the growth prospects for the inductor market?
A3. The global inductor market is expected to grow at a CAGR of 4.27% over the forecast period.
Q4. How is the inductor market segmented?
A4. The inductor market has been segmented by type, end-user industry, application, and geography.
Q5. What factors are anticipated to drive the inductor market growth?
A5. The growth of the global inductor market is also fuelled by escalating demand for inductors from the telecommunication, industrial, automotive, and defense sectors.
Delta Electronics, Inc.
Taiyo Yuden Co., Ltd.
Ice Components Inc.
Pulse A Yageo Company
Murata Manufacturing Co., Ltd.
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